Cerner Coverage Initiated by Analysts at Raymond James (CERN)
Research analysts at Raymond James began coverage on shares of Cerner (NASDAQ:CERN) in a report released on Tuesday, American Banking News.com reports. The firm set an “outperform” rating and a $60.00 price target on the stock. Raymond James’ price target indicates a potential upside of 13.49% from the stock’s previous close.
Shares of Cerner (NASDAQ:CERN) opened at 52.87 on Tuesday. Cerner has a one year low of $45.27 and a one year high of $63.07. The stock’s 50-day moving average is $58.15 and its 200-day moving average is $56.59. The company has a market cap of $18.184 billion and a price-to-earnings ratio of 46.79. Cerner also saw a large decrease in short interest in the month of January. As of March 31st, there was short interest totalling 15,907,453 shares, a decrease of 6.8% from the March 14th total of 17,063,226 shares. Based on an average daily volume of 1,473,653 shares, the days-to-cover ratio is currently 10.8 days. Approximately 5.3% of the company’s shares are sold short.
Cerner (NASDAQ:CERN) last released its earnings data on Tuesday, February 4th. The company reported $0.39 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.39. The company had revenue of $793.20 million for the quarter, compared to the consensus estimate of $794.22 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts predict that Cerner will post $1.66 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at ISI Group raised their price target on shares of Cerner from $65.00 to $70.00 in a research note on Tuesday, March 25th. They now have a “strong-buy” rating on the stock. Separately, analysts at SunTrust initiated coverage on shares of Cerner in a research note on Friday, March 14th. They set a “buy” rating and a $74.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of Cerner in a research note on Wednesday, March 5th. They set an “overweight” rating and a $71.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $69.28.
Cerner Corporation is a supplier of healthcare information technology solutions, services, devices and hardware.
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